Welcome to the captivating world of SP500 technical analysis, where we unlock the secrets of the market using Elliott Wave Theory. Join us on this journey as we delve into the latest insights and trends shaping today’s trading session.

SP500 Technical Analysis

In our SP500 technical analysis using Elliott Wave Theory the market gave us a crazy ride as it dropped 80pts before ripping 150 higher. The bulls now have control and a break directly over 5605 then we look directly to 5850. This would likely be a rocket ride up after a small pullback.

If we see the market hold below and move lower in 5 waves we would look at a potential C wave of B or bigger C wave down.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also traded down before rocketing higher. They broke over some key resistance and are now looking at the 19650 area as a breakout potential. If they break directly over this we could see the NQ rocket to 22000 after a small pullback.

If they give us a lower low then we have the possibility of a deeper B or leading diagonal.

Stay Informed with Elliott Wave Theory

As we continue our journey through SP500 and NASDAQ technical analysis, guided by the powerful Elliott Wave Theory, our goal is to keep you well-informed about the market’s ever-evolving trends and the abundant opportunities it offers. Think of it as having a trusty compass in the vast sea of trading, helping you navigate through the dynamic landscape of today’s financial markets.

So, stay tuned for more updates and insights, and may your trading journey be as thrilling as the markets themselves.